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Crude Oil WTI

WTI creates a price gap, room for price declineTVC:USOIL dropped sharply in the Asian trading session today, October 28, at press time WTI crude oil maintained a decrease of 3dollars on the day, equivalent to 4.18% and is currently trading at 68.6USD/barrel. The current risk aversion in the geopolitical situation has subsided. Israel's weekend retaliatory strike against Iran bypassed Tehran's oil and nuclear infrastructure without disrupting energy supplies, easing geopolitical tensions in the Middle East and further weakening pressure on the supply side, at the same time causing disadvantages for rising oil prices. With the US election approaching and demand expected to show no signs of recovery, some fundamental pressures have returned, causing the energy market to fall into a negative state again. Technically, on the daily chart of TVC:USOIL It created a GAP jump right at the opening of trading earlier this week and recovered slightly from the upper edge of the price channel. Although WTI crude oil recovered, it still has not reached the closest support level with the target of around 67.14 - 66.44USD, so WTI crude oil still has the ability to fall further before "filling the GAP". Usually, price gaps are filled, but this is sometimes not immediate, it can happen over the next one or more months, the important thing in trading is that it depends on the trend. WTI crude oil has been under pressure from the EMA21 moving average. Note to readers in the previous issue of WTI crude oil, along with that, the Relative Strength Index broke down from the 50 level, showing that The downside potential is very wide and the slope of the RSI also shows a huge downward momentum. Technically, WTI crude oil has enough pressure to decrease in price with main resistance at EMA21 and the 0.236% Fibonacci retracement level. Along with the downtrend, notable technical levels of WTI crude oil will be listed as follows. Support: 67.14 – 66.44USD Resistance: 68.59 – 69.73 – 70.56USD
TVC:USOIL
by Xayah_trading
#202443 - priceactiontds - weekly update - wti crude oilGood Evening and I hope you are well. tl;dr wti crude oil: Dead zone 70 - 72. Best not to trade it and wait for the breakout. I have no opinion on who wins it. For me to believe the bullish breakout to be good, I need to see follow through selling above 73, otherwise it could still be just a retest of the previous support. Quote from last week: comment: Bulls started ok on Monday and the close was neutral but Tuesday really killed every last bull who bought above 71 and hoped for a second leg up above 75. Market has now left a giant bearish island reversal between 71 and 72.5 and that is as bearish as it gets. Bulls last hope now is to hold above the bull trend line at 68. comment: Bulls actually managed to hold it above 68 and the trend line but failed to close the bear gap completely. This leaves us in nowhere land between 70-72 and a proper triangle. Play that until it’s clearly broken. No more deeper analysis needed. current market cycle: trading range (triangle on the weekly tf) key levels: 63 - 78 bull case: Bulls need a daily close above 72.7 for a chance of retesting north of 75. Below 68 things get really spicy. Invalidation is below 68. bear case: Bears need a daily close below the bull trend lines (also head & shoulders neckline) for lower prices. First would be below 69 and second is below 68. If they manage that, market is free to test down to 66 and then 64. If the neckline breaks, measured move would be 59ish but that is very far fetched. Invalidation is above 72.7. outlook last week: short term : Neutral 68-70 but leaning bearish near 71. Not the best spot to trade currently. → Last Sunday we traded 68.69 and now we are at 71.78. Decent outlook. short term: Neutral 68-70 but leaning bearish near 71. Not the best spot to trade currently. medium-long term - Update from 2024-10-20 : No idea where this wants to go in the remaining 2 months of this year so I am neutral until we have a better pattern. The big triangle on the weekly chart is alive and until that changes, no more updates. current swing trade: None chart update: Adjusted bear gap
NYMEX:MCL1!
by priceactiontds
USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
FX:USOILLong
by ShahedZare
WEEKLY FORECAST OCT 26th: SELL US & UK CRUDE OIL In this video, we will analyze the CRUDE OIL markets in the US and UK, looking through the lens of ICT Concepts. Price has traded up into a bearish FVG, so therefore I am BEARISH. Price can turn neutral in this geopolitical environment, but maybe the inside bar will act as a harbinger of bearish things to come. Check the comments section below for updates regarding this analysis throughout the week. Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
NYMEX:CL1!Short
by RT_Money
2
USOIL Will Go Higher! Buy! Please, check our technical outlook for USOIL. Time Frame: 2h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 71.62. Taking into consideration the structure & trend analysis, I believe that the market will reach 73.20 level soon. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
TVC:USOILLong
by SignalProvider
1
Mag 7 Earnings - Something will Break (Ceiling or Floor?)797 stocks reporting earnings next week Notables include GOOGL LLY CAT META MSFT COIN AMZN AAPL XOM CVX MA V $15 trillion in market cap at play as the US markets are still very close to all-time highs with a melty-uppy vibe. I'm cautiously bullish and could certainly see the highs get blown off with strong earnings momentum dominating the sentiment. I could also see Mag 7 disappoint investors with "not enough growth" and any pullbacks on Mag 7 will certain drag on the entire market. Survive next week, then it's onto the US Election, FED, Non-Farm Payroll. No big deal, it's just trading :) Thanks for watching!!!
HKEX:HSI1!
by ChrisPulver
WTI Oil H4 | Potential bullish bounceWTI oil (USOIL) ) is falling towards a swing-low support and could potentially bounce off this level to climb higher. Buy entry is at 69.33 which is a swing-low support. Stop loss is at 68.46 which is a level that aligns under a pullback support and the 78.6% Fibonacci retracement level. Take profit is at 71.93 which is a swing-high resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILLong
by FXCM
WTI turns sharply lowerCrude oil prices were over 3% higher this week, but as i mentioned in my previous post, the risks remained tilted towards the downside following a 9% drop the previous week. Lo and behold, WTI has now turned sharply lower after testing broken support between $71.50 to $72.50 area in the last couple of days. At the time of writing, it was back to the $70.00 level, which, if breached decisively, could pave the way for more losses in the days ahead. Middle East tensions have slightly stabilized as Israel has so far refrained from attacking Iran and has said it will not target its nuclear facilities. However, the situation remains volatile due to Israel’s ongoing operations in Lebanon, which has reignited concerns about disrupted oil supply. Meanwhile, the oil market is also cautious about a possible Trump victory in the US election, as his policy of boosting oil production could lead to oversupply and further price declines. by Fawad Razaqzada, market analyst with FOREX.com
FOREXCOM:USOILShort
by FOREXcom
USOIL Will Go Up From Support! Long! Take a look at our analysis for USOIL. Time Frame: 12h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 71.32. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 75.37 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
TVC:USOILLong
by SignalProvider
1
WTI CRUDE OIL: Keeps respecting the long term Support Zone.WTI Crude Oil is neutral on its 1D technical outlook (RSI = 48.339, MACD = -0.320, ADX = 27.988) as it is recovering from last week's red candle that almost touched the S1 Zone. As long this holds, WTI will be bullish on the medium term at least, as on the long term the formation of the 1W Death Cross is bearish. The presence of the LH trendline doesn't allow much room for higher targets and since the previous rebound on the S1 Zone (December 11th 2023) came close to the 0.786 Fibonacci level, our target is in the vicinity of those (TP = 78.00). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope